LONDON and SINGAPORE, July 20, 2021 /PRNewswire/ -- TriOptima, a leading infrastructure service that lowers costs and mitigates risk in OTC derivatives markets, today announced that it reduced the total Singapore dollars notional outstanding at LCH by 50% by compressing SGD 1.7T in interest rate derivatives H1 2021.
This contributes to a record 12 months with TriOptima successfully terminating over SGD 3.5 trillion worth of notional across 39 participants, including direct clearing members, clients, and clearing brokers. The latest Singapore dollar compression run on Jun 23, 2021 also saw firms adopt TriOptima's benchmark conversion service for the first time. The strong results and wide participation underscore the central role of TriOptima' s compression service in helping the industry reduce legacy benchmark exposures, as part of the global shift to the new reference indices.
"TriOptima continues to help market participants decrease their exposure to legacy benchmarks," said Philip Junod, Senior Director, triReduce and triBalance business management. "The results are a testament to our continued innovation, coupled with our global network to provide solutions to the challenges faced by the OTC derivatives industry."
TriOptima is a part of CME Group. For more information on TriOptima offerings, visit: https://www.trioptima.com/
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
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SOURCE CME Group
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